let us show that we can do it. but i still think initially so many people were tying the -- what they saw was a disconnect between valuations and fundamentals. they were tying that, well, you've got to fed. well, you've got the fed. if you do take that away, there are some people that would think that this is sort of up on -- like on an air pocket, at least short-term. >> i agree, joe. i think the worst thing the fed has done by overstaying their massive crisis like easing policy is they've created this perception that this thing is just a sugar high. and it's totally dependent on the federal reserve drip. it's not. i disagree that the economy is worse now than it was six months ago. we just came off a quarter where we created 200,000 jobs a month. we've had a can i say consistent drop in the unemployment rate. house sg clearly at new highs for the recovery. confident is at a five-year high. the household net worth is restored. the burdens are down -- >> jim, all of that may be true, but the question is, the drip i

. >> he used turbo tax. that was the problem. >> is that what secretary geithner -- >> yeah, it was -- >> is that evasion? >> he didn't pay part of the taxes. >> he didn't pay it. then he paid it later. >> sounds like a mistake if it was related to turbo text. something got lost in the computer. >> do you want someone running the irs -- >> not like he set up his own private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east.

at the moment the feds are all over on us about libor. that's for any us dollar? yes. don't think any one cares about the jpy libor. >> i will walk over. >> they were in the same area, one of the problems with this b rbs circumstance, for a long time, the traders, the people supposed to give the information to the libor submitters, they were sitting in in the same area. they would walk over to them. what we did in the ubs and barklclay's kiscases we assurede are firewalls between these. >> who's getting fired? bob diamond lost his job. is the ceo of ubs going to lose the job? the new fellow, anthony jenkins at barclays actually said some pretty astounding things. i hope others take note. anthony jenkins apt barkley said we sacrificed short term profits for our overall values and reputation. even the new head of investment banking at ubs has said some similar things, how they were too arrogant and self-convinced. it's that sort of message i hope everyone takes on. >> who's the victim here? >> everybody in the market. when somebody has a false rate, everybody pays the pr

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i'd use it if it was there. i would go with the use it or lose it. thanks, alan. >> we're going to come back to miles nadal. anyway, it's good to see you. tell us about the super bowl ads that you actually have run this weekend? >> i don't even know because they don't even tell me and they don't tell us sflp. >> you're so high -- >> no, no. it's discreet. some of them don't announce publicly what they're going to do until the day of kind of thing. we have usually about a dozen spots. so we have about just under 20% of the ads. >> how much money is in it for you? >> oh, goodness. well, we're usually on retainer. so it's part of our overall program and we don't mark up production. but it's -- what's most important, the profile that it gives you to do iconic ads that produce results and that leads to new business activity, which has been for us record. >> do you do media buying, as well? >> we do. we do about $3.5 million worth of media buying. >> do you get a percentage for what the buy is? >> yes. >> where we do buy super bowl spots, that part is very

with us. we'll talk about the key events this week that could make or break the story for the bulls, continue this debate that we're having right now. before we get to that, though, attention, parents, kids and happy meal lovers everywhere. get this. mcdonald's says that it is offering its first new happy meal andre in a decade. fish mcbites. >> i would i would like those. >> i think i would, too. they would be widely available this week through march to coincide with lent. so it's perfect. on fridays, get a happy meal. we'll be right back. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> wel

follow us on twitter at "squawk" cnbc. like us on facebook. visit our show page, "squawk box."cnb box."cnbc.com. ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. >>> welcome back, everybody. take a look. futures indicated slower. dow futures down about 6 1/2 points and s&p 500 down 1 1/2 points. the deal is official. office depot is buying officemax in an all stock deal and each company will ha

follow us on twitter. @squawkcnbc. you can like us on facebook. you really like us. and visit our show page, squawk.cnbc.com. revolutionizing an industry can be a tough act to follow, but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of companies simplify how work gets done. how's that for an encore? with xerox, you're ready for real business. >>> secretive chinese military unit is believed to be behind a series of hacking attacks, according to a report by u.s. computer security company. the company believes the chinese unit carried out sustained attacks on a wide range of industries, and the comments are prompting a strong denial by china, and accusations that it, in fact, was the victim of u.s. hacking. nonny, nonny, nonny. i don't know what that is in chinese. but it's -- you think -- you immediately

she'll be joining us. but before we get to all of that let's get back to andrew and steve at cnbc headquarters. >> thank you, becky. i'm looking forward to that interview with carol. i think she's probably got a lot of interesting views about what's going on in the valley and specifically yahoo! there's so much going on. >> she always has an interesting way of putting things, too. weigh can't wait to hear more about it. >> that's a very interesting way of putting it. we will get the seven-second delay button going. our guest host this morning is one of the world's best-known bulls. jeremy siegel is here sitting in becky quick's chair. >> yes, i am. >> how you doing? >> i'm doing great. >> i think i want to be in pebble beach today. >> we all want to be in pebble beach today. the last time you were here you said 15,000 on the dow was definite. this was not -- there was no equivocating here. >> well, almost. 70% that the end of this year -- i made the prediction, january, actually, 2012. so that's when i sai

love is going to give us stocks. meantime democrats' expectations for president obama's big speech, house minority whip steny hoyer is going to join us in just a few minutes. tomorrow on "squawk" our guest host the always outspoken sam zell. we'll ask him about real estate investing and tonight's state of the union. you do not want to miss that at all. >> we've got a delay for that. >> loves andrew. >>> coming up we're going to get you ready for tonight's state of the union. congressman steny hoyer will join us to talk about what democratic leadership expects to hear in the president's speech. >>> and tracing madoff's money. an exclusive interview with bankruptcy trustee irving piccard and his attorney on their effort to pay back madoff's investors. stick around. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can

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i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. sglo . >>> welcome back, everybody. heading into today, the markets are about flat for the week. and it is that time of the quarter where we get to 13fs. these are filings by major investors releasing stock purchases and sales. the battle for apple is among the most interesting stories. david einhorn bought apple call options and upped his investments. in the meantime, dan loew sold his entire stake in apple. you see these guys lining up on opposite sides. einhorn took a stock in google. morgan stanley and news corp. among the other filings to talk about, carl icahn. he was mum on whether or not he was taking a stake when he was fighting it out with ackman. but we now know that carl ic